461–470 of 741 posts
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> made it clear that anyone who has worked on these products should not be hired As in, even a dev, HR, etc person having worked for an online gambling company? I feel this may be a slippery slope..
Everything is a slippery slope to somewhere. That doesn't mean you can't draw lines.
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This is a trite response that doesn't engage with what was originally stated. The double edged brilliance/danger of capitalism is that it constantly opens up and moves into new markets. This is good, it means once the market determines a need, capital investment can accelerate production of the good that meets that need. But the flip side is it is coming for everything. Everything will be marketized and monetized and…
> we've seen concentrated wealth chip away at regulations for decades or even rip them apart overnight. There are more and more regulations every day. Oil refineries are being abandoned in California due to regulations so heavy there's no way for them to operate anymore. A friend of mine pulled his business out of California due to stifling regulations. > Everything will be marketized and monetized and accelerated an…
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> I prefer prediction markets to gambling because the platform isn't the bookmaker. Just because you prefer poker to slots, that doesn't suddenly mean that poker isn't gambling.
Slots have odds which change throughout the day and are usually (on average) pretty bad. In Poker, you play against other players, not the house. There is a rake which is very minor when compared against the average returns against other players. They are fundamentally different. In slots, you bet against the house, in poker you bet against other players. So slots are gambling in the traditional sense. Poker however…
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This is a trite response that doesn't engage with what was originally stated. The double edged brilliance/danger of capitalism is that it constantly opens up and moves into new markets. This is good, it means once the market determines a need, capital investment can accelerate production of the good that meets that need. But the flip side is it is coming for everything. Everything will be marketized and monetized and…
The problem isn't capitalism. That's just poor thinking from someone who has spent too much time thinking about political ideology. The problem is how we finance campaigns combined with gerrymandering. And if you want proof, look at corruption in communist and formerly communist countries. It makes the US look like a bunch of choir boys by contrast. Thinking that it is about capitalism is just an attempt to wedge in…
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Well, there are laws against insider trading.
Is shorting a company and then murdering its CEO considered insider trading in your jurisdiction?
It could be other types of fraud, however.
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> made it clear that anyone who has worked on these products should not be hired As in, even a dev, HR, etc person having worked for an online gambling company? I feel this may be a slippery slope..
Actions have consequences. You can justify your actions however you want, and I can judge you for them.
The real power in prediction markets is creating a market for what you want to occur - it's a tangible method to leverage hyperstition. If you want Polymarket to no longer exist, then simply create a pool for "Polymarket will no longer exist by Jan 1st 2027" on Kalshi, pump the price, and wait for one of these whales to do the job of making it come true for you. When done right, you get the satisfaction of the thing…
So are you advocating for the idea that the wealthy should be able to control history then, by nature of having the largest amount of betting capital?
The real power in prediction markets is creating a market for what you want to occur - it's a tangible method to leverage hyperstition. If you want Polymarket to no longer exist, then simply create a pool for "Polymarket will no longer exist by Jan 1st 2027" on Kalshi, pump the price, and wait for one of these whales to do the job of making it come true for you. When done right, you get the satisfaction of the thing…
How? Some guy wants Polymarket gone so he bets $1 billion that it will be gone. Since this is absurd, everybody bets against him and makes a tidy profit. Whatever this is you’re proposing it doesn’t work.
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> made it clear that anyone who has worked on these products should not be hired As in, even a dev, HR, etc person having worked for an online gambling company? I feel this may be a slippery slope..
Prediction markets are far, far more slippery. Anyone working at one of these places had other options & chose to sell their morals so I think it's perfectly reasonable to not hire them.
I got into weather betting markets earlier this year since I figured those can't possibly be rigged, it is automated weather station data yet some groups in the market know the truth a few minutes before everyone else based on the way the markets move. BUT, I stopped on the day that the PHL airport preliminary report said the low of the day was 17 and then later than day the low was raised to 18. The way the market w…
> said the low of the day was 17 People are gambling on the "low of the day?" Might as well make back alley chicken fighting legal.
The key was they were local and person to person in person - not online.
You and I sitting at the bar get into an argument/bet about what the low today will be, and the bartender bookies the bet before he checks what the low actually was - that makes a certain amount of sense.
Putting it online and making it accessible over TCP/IP opens it up to all sorts of scams and manipulation.